3. Tax Equalization Bd convenes - Laserfiche WebLink

2014 Cass County Board of Equalization Michael & Pamela McNair The McNair's are appealing their property tax assessment on their condo unit, located at 12 Broadway, Unit 203. Their letter(attached), dated May 12`h, states that their assessment increased from $219,200 to $266,400 in less than 2 years. They state that other, more luxurious condos, within the project are valued less on a square foot basis and sold for more than the current assessment. The Fargo Assessment Department has submitted a response (attached). The assessor indicates that sales of condos similar to the applicant's unit support their value. The Fargo office states that two of the high end transfers were "build to suit" sales and are not true market sales. I visited with Mr. McNair at the condo and reviewed his concerns. I reviewed the layout of the project. I did not have the opportunity to view the interiors of any of the other condo units. Therefore, it is difficult for me to make comparisons to other units and to say that a unit is over or under assessed relative to the other. It is my recommendation to uphold the assessment as determined by the City of Fargo. I would suggest that the assessor review the higher end condo assessments in the complex to make sure the amenities, features, etc. are accounted for in the assessment. Suggested Motion: "I move that the Michael and Pamela McNair appeal be denied, as recommended by the Fargo City Assessor and Director of Equalization."